POSITION LIMIT CIRCULAR PL16-009
DATE:
February 29, 2016
TO:
Permit Holders
RE:
Diamond Foods, Inc. ("DMND") Merger COMPLETED
with Snyder’s-Lance, Inc. ("LNCE")
Effective Date: Monday, February 29, 2016
As a result of the above merger, the Diamond Foods, Inc. option symbol will REMAIN
THE SAME FOR (1) ONE DAY, AND change to LNCE1, effective for Tuesday, March 1,
2016. [Any FLEX series that may exist will be adjusted in a similar manner to the
standardized option.]
The Exchange has established that the position and exercise limits following this merger
will be any combination of LNCE and LNCE1 option contracts on the same side of the
market not to exceed 150,000 contracts (15,000,000 shares) through September 16,
2016.
Following the September 16, 2016 expiration, the position and exercise limits will revert
to the standard limit of 75,000 contracts (7,500,000 shares) of LNCE.
Please be reminded that on Monday, February 29, 2016:
Each adjusted Diamond Foods, Inc. contract will require the receipt or delivery of: (A) 77
shares of LNCE Common Stock; plus (B) $1,250.00 cash; plus (C) cash in lieu of 0.5
fractional share of LNCE Common Stock. Please refer to Research Circular #RS16-157.
For additional information, please contact Sherrell Forbes at (312) 786-7178 in the
Regulatory Division.